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Start-ups to create 1,500 new jobs

Written by Business World, on 18th Feb 2015. Posted in Agriculture

article headlineOne and a half thousand jobs will be created over the next three years by 102 High Potential Start-Up companies, the Minister for Jobs, Enterprise and Innovation Richard Bruton said today. He was speaking at an event to announce details of the new start-up businesses to which Enterprise Ireland directly committed investment and supported in 2014. The impact of these new start-ups is felt right across all regions in Ireland and across a wide range of business sectors including software and services, medical devices and pharmaceuticals, cleantech, engineering, food and consumer products, he said. The Enterprise Ireland High Potential Start Ups programme 2014 showed that 81 new early stage businesses were supported under the Enterprise Ireland Competitive Start Fund in 2014, which injects critical early stage funding into new businesses. Some 43 new female-led start-ups supported, the highest number ever. Last year Enterprise Ireland expanded its ambitious programme to drive an increase in the number of new businesses being established by female entrepreneurs. New initiatives during the year included the development of a dedicated female accelerator programme and the launch of Enterprise Ireland's first peer-to-peer online networking platform for female-led companies. 16 spin-out companies from higher education institutions were supported in 2014. These businesses are built on publicly-funded research to become new HPSUs while 12 new food and drinks start-ups, the highest number ever. Some 14 new start-ups established by entrepreneurs from overseas, involving a range of sectors and with founders who have moved to Ireland to establish their businesses from Singapore, India, Switzerland and Germany. Speaking at the announcement Minister Bruton said: "At the heart of the Government's Action Plan for Jobs is creating a powerful engine of Irish enterprise, that will accelerate jobs growth in towns and villages right across the country. We are constantly reviewing the needs of entrepreneurs and businesses and developing new initiatives to assist new start-ups, including extra resources to support companies in overseas markets, a new network of Local Enterprise Offices to support more start-ups, and the recently launched Action Plan for Jobs - Regional. The companies supported by Enterprise Ireland under its High Potential Start-Ups programme and Competitive Start Funds are key to our plans. These are the new ambitious promoters that will go on to become part of the growing number of internationally trading Irish companies that each year are increasing Irish exports and creating new Irish jobs – with some ultimately developing into the large employer Irish multinationals of the future. Today's announcement that 102 fast-growing companies who we have supported will create 1500 jobs over the next 3 years is a great boost and further evidence of what is possible in this area".

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